Page size (work area)

I am a sign maker and graphic designer.  When I am designing a sign in Corel Draw X7, to convert to an EPS file for my vinyl printer, is it preferable to make the page size (work area):

1. the same size as the sign I am making;
2. or bigger so that the design has some white space around it?

I have always made the work area larger than the sign I am designing, so if I was designing a 1000mm x 450mm sign, I would probably make the page size or work area 1100 x 550mm.

When I have created my vector image I then save it as an EPS file for my vinyl printer software driver, and have never had a problem in the past.

Why I ask is that when I send of a pre-press PDF to my wholesale commercial printer (artwork for a pamphlet, for example) the page size has to be exactly the size of the graphic, and that made me wonder what the rest of you do.  If you were designing a graphic whose final size would be 1000mm x 450mm, would you make your work area that size, or bigger?

Many thanks,

James